The Journey Towards “Cash Light”

Around the world, 2.5 billion people lack access to formal financial services. As a result, most poor households live almost entirely in a cash economy. The Better Than Cash Alliance, a global public-private partnership dedicated to accelerating the use of electronic payments in place of physical cash. USAID convened the Alliance, which includes forward-thinking partners like the Bill & Melinda Gates Foundation, Citi, the Ford Foundation, Omidyar Network, Visa Inc., and the U.N Capital Development Fund, to move the world toward a more transparent, efficient, inclusive, cash-light society.

Shifting to electronic distribution of social benefits, humanitarian aid or payroll payments can advance financial inclusion and help poor people build savings while achieving cost savings, efficiency and transparency. The Alliance provides expertise and resources needed to make the transition from cash to digital payments to achieve the shared goals of empowering people and growing emerging economies.